Concours classics take the cream
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The Aston Martin DBS Vantage and Peugeot 205 GTI are among the classic cars increasing in value in the UK, according to classic car and motorbike insurance specialists Hagerty.
The company has just updated the Hagerty Classic Index, which shows classic cars overall in the UK increased in value by 7.3 per cent during the last quarter. This compares with a 1.3 per cent increase during the third quarter.
The company says an analysis of the figures showed that top-condition classic cars have performed best across the full price guide, with the value of those vehicles sold in only “fair” condition just retaining their value.
Among models to increase in value the most were:
Aston Martin DBS Vantage:
Rise of 9.4 per cent (average value $NZ169,590). of Aston Martin DBS and V8s have been climbing steadily in the past 18 months as buyers realised the value and style these cars offered, says Hagerty.
As ever with Astons, Vantage specification cars are the most desirable, and buyers have been hunting down good examples of early DBS Vantages, with values climbing as a result. The company says it expects this trajectory to continue.
Aston Martin DBS Vantage
Peugeot 205 GTI:
Rise of 28.5 per cent (average value $19,990). Over the northern summer, Peugeot 205 GTIs rocketed in value, with exceptional examples achieving more than $52,490.
That trajectory has continued — although (as with many 1980s/ 90s cars) the difference in value between fair and concours examples is huge. This percentage rise reflects the market’s desire for top condition cars.
Porsche 928 GTS:
Rise of 13 per cent (average value $59,390). Front-engine Porsches have been rising rapidly across the board for the past 18 months. The 928 is just starting to be considered for the superb sports car that it is — a huge commitment by Porsche to its support and restoration has helped this.
As with the Peugeot, top examples command a huge premium, and fair ones are still cheap to buy, mainly because neglected cars can cost a great deal to rectify. Hegarty says it expects the Porsche 928 to continue its value rise.
Among the models to fall in value in the quarter were the 1967-72 Alfa Romeo 1750 GTV
( 0.1 per cent), DeLorean DMC-12 ( 3.5 per cent) and the Jaguar Mk11 3.8, (2.9 per cent).
The managing director of Hegarty, Angus Forsyth, said confidence had returned to the classic car market in the UK during the past few months after a summer of uncertainty.
“We believe the Q3 results were a reflection on people holding back following the initial uncertainty of the Brexit vote.
“Whether people still feel classics make good investments, or they just want to put their money into something fun, they are still definitely buying, and the values of the best classics are still on the rise,” Forsyth said.
He added that the trend for later classics, from the 1980s and 1990s continued strongly.